The story
In February 2009, Paladin completed the takeover of Fusion Resources, adding the Duke Batman and Honey Pot deposits to the existing Mount Isa project area. The capacity of the LHM operation has been successfully expanded to a production rate of 5.2Mlb per annum.
According to diplomatic cables leaked in 2010, BHP Billiton attempted to lobby the Australian government in order to block the Aluminium Corporation of China (Chinalco) investment in Rio Tinto.
In 2012, Paladin joined forces with Rio Tinto to block the sales of BHP Billiton's Australian uranium deposit to Canadian mining company, Cameco.
Founder of Paladin, John Borshoff stepped down as CEO in 2015 as part of a board decision. Alexander Molyneux, took over as interim CEO of the company. In 2016, The Australian reported that Paladin may be in talks with Russian owned ARMZ Uranium Holding as well as China National Nuclear Corporation. CNNC is a 25% owner in Paladin's Namibian mine Langer Heinrich.
Paladin posted a loss of $22,9 million after tax in the six months to 31 December 2015.
In 2016, Paladin announced the sale of non-core Australian exploration assets to Uranium Africa. The value of the sale was A$2.5 million and included the Oobagoma project in Western Australia and Pamela/Angela project in the Northern Territory.
In July 2017, Paladin filed for insolvency, due to its high debt and consistently low uranium prices. The stock was also delisted from the Toronto Stock Exchange. To pay its debt, Paladin made a debt-for-equity swap on 2 February 2018, with 98% of its shares being transferred to its creditors. Its shares were subsequently reinstated for trading on the Australian Securities Exchange on 16 February.
In June 2018, former Newcrest executive Scott Sullivan was appointed to take over the CEO responsibilities from Alexander Molyneux.
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On 24 June 2024, Paladin Energy announced a deal to purchase a Canadian mining development company, Fission Uranium Corp., for $1.14 billion. On 18 December, the federal Canadian government approved the deal after conducting a national security review under the Investment Canada Act. The deal was completed on 23 December.
From Wikipedia’s article on Paladin Energy, shared under CC BY-SA 4.0.5